IFT - Infratil

[RRR]

I do like IFT, missed it all the way from $1.70! But companies like IFT (holding companies - although IFT also operates what it owns I think) will almost always trade at a discount to NAV. It is IFT's estimate NAV any way - what if they have tax to pay if they sell an investment?

[andysh]

The Infratil 'Group' is not a holding company though, the companies to which Infratil don't control at their 2012 Annual report are Z energy (through Aotea Energy Limited), Mana Coach Holdings (2mil), and 10.4mil as held for sale which I believe is the UK airports. So all the rest of the companies which the parent owns, the parent controls.

I do agree though, there is going to be some overhang, but I would have thought not a massive amount.

I originally got into Infratil at 2.72 just before the GFC, but then over doubled my holding at 1.76 so still reasonably happy.

[Zeitgeist]

Hot off the press:http://www.heraldscotland.com/news/t...hip.1381239503

No mention of $$ at this point. Bogoievsky: "[Infratil] will work proactively with the Scottish Government over the next six weeks towards achieving completion of a transaction."

Fingers crossed for a loosening of the Scottish Government's purse strings. I'm no accountant but it looks like Infratil valued its two European airports at $21.2 in its most recent annual report so anything greater than $10.6m would be a nice addition to the upcoming half yearly (this totally ignores the respective value of each of the two airports which I know nothing about).

Can't really call it good news as the sale will represent the end of a poor investment but nice to have cut the loss.

[CJ]

The Infratil 'Group' is not a holding company though, the companies to which Infratil don't control at their 2012 Annual report are Z energy (through Aotea Energy Limited), Mana Coach Holdings (2mil), and 10.4mil as held for sale which I believe is the UK airports. So all the rest of the companies which the parent owns, the parent controls.
.

Trustpower is only partly owned (can't remember%) and Wellington airport is only 66% owned so technically have control but the council can probably exert a bit of control due to the nature of the asset.

[macduffy]

Hot off the press:http://www.heraldscotland.com/news/t...hip.1381239503

No mention of $$ at this point. Bogoievsky: "[Infratil] will work proactively with the Scottish Government over the next six weeks towards achieving completion of a transaction."

Fingers crossed for a loosening of the Scottish Government's purse strings. I'm no accountant but it looks like Infratil valued its two European airports at $21.2 in its most recent annual report so anything greater than $10.6m would be a nice addition to the upcoming half yearly (this totally ignores the respective value of each of the two airports which I know nothing about).

Can't really call it good news as the sale will represent the end of a poor investment but nice to have cut the loss.

Thanks, Z!

I call that good news!

CJ, a couple of years' ago, IFT owned 50.6% of Trustpower - their biggest investment. I havn't seen any revision to that number but don't doubt that IFT still have the biggest say there.

[CJ]

CJ, a couple of years' ago, IFT owned 50.6% of Trustpower - their biggest investment. I havn't seen any revision to that number but don't doubt that IFT still have the biggest say there.

Close - 50.42% with TECT holding another 32.9%. So technically they do have control but it still has full management team so IFT is a second layer of managment.

Compare that to the likes of NZ Bus which has its own management team but I assume they dont overlap with the staff at IFT.

Re Overseas Airports - even selling them at Book value would be a great deal as the savings in management time alone would drive benefits. NZFC has written them off in its valuation: http://www.nbr.co.nz/article/infrati...er-says-bd-146

[macduffy]

Comment on the proposed sale of Prestwick.

http://www.stuff.co.nz/business/indu...w-for-Infratil

[Mista_Trix]

Sad news

"Infratil advises with great sadness that Infratil’s Chairman David Newman passed away this afternoon in Wellington"
https://www.nzx.com/companies/IFT/announcements/242338

[Dentie]

Sad news

"Infratil advises with great sadness that Infratil’s Chairman David Newman passed away this afternoon in Wellington"
https://www.nzx.com/companies/IFT/announcements/242338

Very Sad ..... hopefully not a catalyst though ... Today is our very first foray into these shares .....

[QOH]

RIP David, very sorry to read this, another from Infratil gone way too soon